NEW YORK CITY — Renters at rent-stabilized units in New York City won’t face a rent increase following a vote by the city board that oversees them.
The Rent Guidelines Board voted 6-3 Wednesday in favor of freezing rents on one-year leases; two years leases will be frozen for the first year, but subject to a 1% increase in the second year.
The move comes amid the COVID-19 pandemic, where so many New Yorkers were either forced out of work or were unable to pay their rent due to the effects of the pandemic and subsequent guidelines that have eviscerated the local and national economies.
For months, tenants rights advocates have been calling for a citywide rent freeze, some even calling for the city to #cancelrent, as the movement became known online.
New York State put a moratorium on evictions in place earlier this year due to the coronavirus pandemic, though it is set to expire on June 20. A more limited moratorium was extended through Aug. 20.